CEA Industries Inc. (NasdaqCM:CEAD) provided update on review of strategic alternatives. "We continue to address the level of our expenses in support of our ongoing strategic review process," said Tony McDonald, Chairman and Chief Executive Officer of CEA Industries. "To demonstrate our commitment to our shareholders and prospects, we further reduced headcount, eliminated product development costs, and brought down business development expenses to help preserve our balance sheet.

We will continue to prudently manage our capital as we work through our remaining backlog of projects." McDonald continued: "As previously reported on August 14, 2023, the Board of Directors is actively evaluating multiple strategic alternatives, including a sale, merger, special dividend, or other potential strategic or financial transaction, including a dissolution of the company whereby cash on the balance sheet would be returned to shareholders after adequate provision for outstanding corporate obligations. We will provide updates on material developments that result from this process." The Company's strategic review remains underway. The Company is no longer exclusively partnered with Roth Capital Advisors (Roth).

CEA Industries is in active discussions with certain prospects, but will continue to evaluate strategic opportunities, including a sale, merger or other potential strategic or financial transaction brought forward by Roth as well as other parties. There can be no assurance regarding the result or outcome of this review.